0.0.1 Simple SPY Trading System. Note the bearish volume pattern, the black candle which has a high chance of reversal, and the overbought of RSI and STO indicators, as well as the oversold VIX/MA(10) at the bottom of the chart, all these signals are saying short-term short.

1.0.7 S&P 500 SPDRs (SPY 15 min). On the 15-min intraday chart, the Descending Triangle is targeting 124.56. By the way, the Ascending Triangle pattern mentioned yesterday indeed broke out upward but didn't reach the projected target. In fact the pattern on the intraday charts are quite reliable. Compared with technical indicators, chart patterns are more accurate in my opinion.

2.0.0 Volatility Index - NYSE (Daily). VIX is extremely oversold. It is now testing MA(200), also note the MA(10) envelope, which has entered into the region of mid-term oversold. Take further notice at the locations where VIX broke MA(10) envelope (marked by red circles), the latest oversold condition is quite significant. Therefore, if VIX drops further tomorrow, no matter the market goes up or down, it is an excellent chance to initiate short positions. Regardless how bullish the market is in the near term, remember that the primary trend is down. Short positions based on such a good signal has a high probability of success.